Our total debt was around 68k. 24.5k was a personal loan with HSBC and the rest were a total of 7 credit cards, 2 store cards and overdraft on 2 bank accounts. Our first creditors meeting was held on 6th May, which was adjourned. HSBC and Halifax would not except the IVA because we wanted to keep our caravan that we had on HP. Because my husband works away from home he uses the caravan to live in. Obviously this also incurs site fees. They wanted him to get rid of the caravan and go into B&B. Our IP told them our circumstances as to why we felt we needed to keep the caravan as going into B&B would be more expensive (he works in the Guildford/London area), he also works during the night, therefore limiting his accommodation choice. Our Creditors met again on 13th May and excepted our circumstances and agreed to our proposal. Like I said, Our IP worked very hard on our behalf. All we got to do know is make it work. Our payments are £342 per month until the HP is finished on the caravan, that will increase by £260 per month for the remainder of the IVA.
Hope this information is useful.
Credit cards were: Alliance & Leicester, Barclaycard, Captial One, Lloyds TSB, HSBC, Halifax, MBNA and 2 store cards with BHS and Debenhams (GE Bank). We had an overdraft on HSBC of just over £400 and £250 with Halifax.
Last edited by
Trickles on Tue May 20, 2008 4:04 pm, edited 1 time in total.
